Tuesday July 18, 2023: $193.73 -($0.26) -(0.13%)
Jul 18, 2023 1:20:54 GMT -8
artman1033 and 4aapl like this
Post by Dave on Jul 18, 2023 1:20:54 GMT -8
Good morning. We have a red pre-market today at -0.11% at this moment.
Bonds Rally as ECB Officials Signals Rate Reprieve: Markets Wrap
Tuesday, July 18
Bank of America (BAC), Morgan Stanley (MS), Novartis (NVS), Lockheed Martin (LMT), Prologis Inc. (PLD), The Charles Schwab Corporation (SCHW), PNC Financial Services (PNC), Bank of New York Mellon (BK), J.B. Hunt Transport Services (JBHT), Omnicom Group Inc. (OMC), Synchrony Financial (SYF), and Hasbro Inc. (HAS) report earnings
U.S. Retail Sales (Jun)
Industrial Production (Jun)
Business Inventories (May)
Retail Inventories (May)
NAHB Housing Market Index (Jul)
Bank of America (BAC), Morgan Stanley (MS), Novartis (NVS), Lockheed Martin (LMT), Prologis Inc. (PLD), The Charles Schwab Corporation (SCHW), PNC Financial Services (PNC), Bank of New York Mellon (BK), J.B. Hunt Transport Services (JBHT), Omnicom Group Inc. (OMC), Synchrony Financial (SYF), and Hasbro Inc. (HAS) report earnings
U.S. Retail Sales (Jun)
Industrial Production (Jun)
Business Inventories (May)
Retail Inventories (May)
NAHB Housing Market Index (Jul)
Bonds Rally as ECB Officials Signals Rate Reprieve: Markets Wrap
Meanwhile, US futures steadied ahead of bank earnings. Morgan Stanley and Bank of America Corp. may temper early optimism with more downbeat results due before US trading opens, according to Bloomberg Intelligence.
Further afield, China’s stuttering recovery is leading to disquiet as investors consider the knock-on effects from a slowdown in the world’s growth engine.
“Investors will be much more interested to understand the outlooks for Q3, as macro continues to deteriorate, mainly in Europe, and China’s expectation of a sudden recovery is faltering,” Luca Fina, head of equity at Generali Insurance Asset Management, wrote in a note to clients.
On the macro front, US retail sales due later on Tuesday will offer the latest read on the health of the consumer. The median economist forecast indicates spending will remain robust.
Treasury Secretary Janet Yellen said the nation is on a “good path” to bringing down inflation without a major weakening in the jobs picture.
Bets on longer-term bonds risk may start to become more popular as the Fed nears the endpoint for the cycle, BMO Capital Markets strategist Ian Lyngen wrote in a note.
Stocks in Asia retreated as China’s sluggish economic recovery triggered growth forecast cuts, with shares in Hong Kong the worst performers in the region.
Further afield, China’s stuttering recovery is leading to disquiet as investors consider the knock-on effects from a slowdown in the world’s growth engine.
“Investors will be much more interested to understand the outlooks for Q3, as macro continues to deteriorate, mainly in Europe, and China’s expectation of a sudden recovery is faltering,” Luca Fina, head of equity at Generali Insurance Asset Management, wrote in a note to clients.
On the macro front, US retail sales due later on Tuesday will offer the latest read on the health of the consumer. The median economist forecast indicates spending will remain robust.
Treasury Secretary Janet Yellen said the nation is on a “good path” to bringing down inflation without a major weakening in the jobs picture.
Bets on longer-term bonds risk may start to become more popular as the Fed nears the endpoint for the cycle, BMO Capital Markets strategist Ian Lyngen wrote in a note.
Stocks in Asia retreated as China’s sluggish economic recovery triggered growth forecast cuts, with shares in Hong Kong the worst performers in the region.